STO
STONE NEgr
ANNLIAL REPORT F[¥.￿NCL&L ST.4TF.MEYrs
A COMPANY LIl¥l￿ED BY GLARALYTEE
FOR THE YEAR ENDED 31 MARCH 2025
CHARITY NLMBER: 1150118
IVLTMBER: 08301111

STO
FINANCIAL STATEMENfs FOR THE YLIR E.NT' )ED 31 MARCH 202S
coNrENrs
Pages
Referen￿ and administrative detatls
Cbairnian's ￿port
Trust¢¢s' report
Statement of TTUSttts' resw)nsibilities
Independent exatnin&s re￿rt
Statcm¢Trt of fllwicial activities
Statement of finaneial ryJsitiOD
io
Staiemenl of casb flows
li
Notf8 to the financial 5tat¢mcnts
12-16

STO
REFERENCE AND ADMINISTRATtVE DETAItS
Charity number.
Company number..
Registered office.
Prin¢ipal office..
1150118
08301111
Sedulo, Office 605. Ali*rt Hou￿. 256-260 Old SL London, ECIV 9DD
136 Shaftesbury Avenu4 ￿nd0￿ WID iEZ. UK
DiRECTOLg (the "TRusfEES-)
Irina Bro
Erica Crump
Yvon Patrick Ic Floch
Cathy Wearing
KEYEMPLOYEES
Artistic Director alld Chi¢f Executive:
Producer.
Inna Schorr
Ilallnah Mycrs
APPOJ2VTED ADYISORS
Banker5.'
N2tWe5L Regeni Strcct Branch. 250 Regent StreeL LOnth)￿ Wl B 3BN
SolicitOT5:
Bates Wells Braitbwaile LLP, 10 Queen Stre¢t Pla¢c, ￿lldO￿. EC4R
IQS. UK
Independent examiner.
Chris McKain. UHY Hackcr Young LLP. 14 Park Row. Notting
NGI 6GR

STO
CFL41RfvtAN'S REPORT
2024-2025. Ston¢ Nest's tsyeltlh ￿11 year of existence. has seen the clwity deliv¢r anoth¢r full public progrumme of
varied and vibrant artistie activity, building on existing partnerships with artisls and organisations and creating new
ones. As in previous y¢ors, charity has continued to oversee gr&lual impmvements. to the building on 5haftcsbury
Avenue, its home and perfomiance venu< which have cnabled it to broaden the public activity it undertakes and
mak¢ operations more sustainable. Activity highlights this y¢ar I￿l￿ded a collaboration with renowned contemporary
dance comp8n}' Ratnb¢rL hosting a Nan Goldin installation with the Gagosi2T] (iallery. an ¢xhibition of Ukrainian
photography with charit8bl¢ organisation K￿0. and our most eclectic mustc pmgTamme to dat¢. Th¢ ¢harity'S
growing netm'orl audiell￿ basc and production track record put it in a strong position to pmmote the arts to the
generdl public and olTer educational activitic& in furtherdnce of its charitable objects. Ln closing. I would like to th2Dk
th¢ sponsors and statTand I￿k fotivard to deliveritig positivc ryrts in futur¢ yeats.
Yvon Patrick le Floch
Chainnan
15 December 2025

STO
TRLSTEES, REPORT
The Trustees ar¢ pl¢as¢d to present their tweltlh annual rel￿ together with the financial statements of Stone Nest
(the "Charity") for th¢ y¢¥r from l April 2024 ti) 31 March 2025 which have been p￿pared on the basis of the
accounting policies set out in ￿te i to th¢ finan¢ial stateniertts and comply with the requirements for & dittctors,
report and accoullts. for CoEllp2ni¢s Ath purposes. The comparative year was from l April 2023 to 31 March 2024.
The financial statements comply with the Charities Act 201 I, the Companies Aet 2006, thc Memordndum & Articles
of Association, and the Stat¢ment of Recomtnended Prdctice - Accounting and Reporting by Chariti¢5 (FRS 102)
(SORP 2019).
STRuCr[rn￿ GOVEILNANCE AND MANAGEMENr
GOVERNING DOCUMENT
Stone Nest 15 a wrnpany limited by guarantee by its Memorandum and Articles of Association dated 20 NoveJDbcT
2012. It As registered &s a ¢h2rity with the Charity Cornmission. The sole member of the Charity Argenteuil Lirnit¢d
whose membetship is non-transferrdble unless through ￿st￿rI￿r¢ or th¢ mcmber entering liquidation. The liabtlity of
thc Tnernber is limited to GBP 10 in the event of winding up.
APPOJNTMENTOF TRUSTEES
As set out in the Articles of A550ciation th¢￿ shall be a minimurn of three tr￿s. Any person willing to act
trustee must be app)inted Ls sucb by the s)le member who will scrvc notice of the apwintment up)n the Charity. The
mcmbcr may specify the tern)s of otrice which sh811 apply to th¢ how¢vcr to d*e no such tern￿ have been
specificd.
TRUSTEEINDucfioNAND TR411VIIVG
New trustees are to be briefed on their legal obligatiOJJ5 wid¢r tharity and cornpany taw. the Charity Commission
guidance on public FrtefiL content of the Memordlldurll & Articles of Association. the committee and decision-
making proc¢55¢3, th¢ business plan and recent flllancial ￿rfOrnia￿ce ofthe charity. The bri¢fing is to be undertaken
by an existing trustee or a key ernployee. Newly apFointcd ttustees aTe encourdged to attend the f￿st board tneeting
following their ap￿I￿tine￿
ORGAIV1&4TION
The board of trustees, which mud have & minimurn of 3 membcrs but no M￿]rnu￿ administers the Charity. The
board typically meets 3 to 4 ttn￿$ a year. To f&cilitatr cffcctivc o￿atIOnS on a day-to-day basis, the Trustees have
delegated authortty for operational matters and artistic perfoEm8nce related activity to the Artistic Director and Chief
Executive.
OBJEcfivES AND ACTIVITIES
The purpose of the Charity, through its Objec￿ is:
To promote the arts for thc bcnefit of tbe public. particularly bul not exclusively thmugh public
rfom)anc&8 of dramatic. literary, Musi￿1 and other artistic Mx)rks and the provision of r¢hearsal
faciliti¢s for such public perforniances. and
To promote the ethjcation of tbe general publiq particularly but Thot ¢x¢lusively through workshop
publio performances and other educational events and services.
Stone N£sVs mission is to promote experimentaL unexpec*d aTMI daring artistic prncttrx across a diverse rdnge of
thth. dance, music and interdisciplinary aru and to bring it to a wide audience.
PLfBI.IC BETrIEFIT
The Trustees And management committed to providtng public benefit through th¢ charitabl¢ activity of Stone
NesL have taken iitto the Charity Commission'5 guidanc¢ in this area
Stone Nest atms to create a meetitig of EX>1￿ visionary art and a wider public. Situated in the heart of London's world-
renowned theatreland it is idealty pla¢ed ￿ bring the brilliant a￿{ experimental to a new audience, enriching cul￿Tal
life through inspiring eX￿rience& Ily pn)ducing and presenting a diverse program￿ of ¢ontempordry performing
arts in a centra] and acce￿iblY designed perfoTmance space with an affordable ticketing poli¢y. w¢ will ensure that
our activity benefits as wide an audience &$ w>&sible.

STO
TRUSTEES, REPORT
ACHIEVEMENfs ALIII PERFORÈKLNCE
Over the last year Stone Nest h&s focused its efforts in the following k¢y ar¢as'.
Cotttinuing to support the Émprovem¢nt of th¢ building in tern)s of its operation as a flexible perfornitng arts
space;
Continuing to d¢v¢lop 4 sustsiDable operational and business model.
Strengthening the organisation building its professional network.
cur￿l￿g a broad prograrnme of public perforniances and culturnl and educational events
Th¢ Stolle Nest t¢am ¢ontinues to be a￿1ve in the cultural and perfotrnance sectors, attending perfonnances and
cultivating relatiOll5hips for funtre collaknrdtiotl, and spr¢ading awaronc55 of thc organisation and its vision. In 2024-
2025. &s in previous year& the organisation built on prtjgress made in r¢£¢nl y¢ars to dclivcr its m05t artistica]ly
succcssful and widest reaching progtamme yeL with a vibrdnt and eclectic live progvdmme of theatre, music, vksuh]
arts and dance. co-productng new ￿'orkS and presenting existing productions, &8 well ￿ supporting artists behind th¢
cenes in rehearsal and d¢v¢lopmcnL
"the 24-25 &e&%on opened with Kiss Alarry Kill, a provocative new play inspired by rvdl life events. explortng the frst
same sex wedding in a UK priso￿ from loog-ternL &8SryKiate theatre company Dante or Die. The work vcry
successful and went on to tour nationally.
Across th¢ ycar wc hosted a 5ertes of concerts IM)th independently and in collalx)ration with promotepi Such &s
Seriou5. BuildTng on an cxisling r¢lationship with forward thinking historical music ensemble Figure. we presented a
series of exciting show5 iDcluding a particularty tn¢morable new work from James Larter. which re-imagined
Viyaldi's Four Se&8ons Is a concerto for perc￿$10[1. At the other end of the spectnmi, Palli Cousins, Atomised
Lislening. a unique interactive sound instsllation that explore5 our rElatiOllship with obsolet¢ tcchnology, turned the
chapel into a saTtctiiary of Soun￿ The London Handel Festival rebjrned to Stone Nest lor an evening of perforrnances
radically re￿￿aginIng what Hand¢l's arias could Ee today. in collaboration with the laiKI nonclassical. Holly Herndon
and Matt Dryhurst's The Cull invikd audience and choir tnernbu5 to record & training data s¢t for a suite of choral Al
odels, closing their exbiTrJition at the Serpelltine. Genre defying Brussels based Erho Coll¢¢tivc brought thought
provoking rontempordry, Cxperimentsl classicat music. Our regular ja72 programme in the chapel 8nd grassroots gig5
and javn nights in the bar continued to thrivc and build their following. Makam Salam. a transfomiative evening or
music and art for peace in the Middle featuring a host of ttnowned local and vi5lting artisLs from across thc
region. The London Review of Books presented their seasonal event AlIen￿tive Le550ns and CaroLY, which featured
readings from & lin¢-up of cstccm¢d cultural voices and artist& as well as experimental vocal ensemble Shard5. We
welcomed back productions of Adham Fardmawy's Daughters of the River (Serpenline) and Hunch Tbeatre's P￿5
Ihe Hal. During Frieze we hosted Julian Charrière's ConÉTolled Burn. which invites the viewer on a cosmic journcy
through deep time. soaring through an aerial landscape of implimling fjreworks. The Duplaced Dreams cxhibition
presented more than IIMJ photos and s¢vcra] short films created by Ukrainian teenagers who were scattered aeross
differeni locations amidst the tunnoil of war. Our work with r¢nowncd c4)ntcrnporary dance company Rambert
Saw thcir cxtraordinary dafflcers perforni wotk C￿ated with cutting-edge cknr¢ogrApher Jill Johoson, and music by
David Poe. presented tntimately in the TO￿
In addition to public activity. thaTity also coThtinued to offer rehearsal and development space and support for
artists and companie&
We have Continued ￿ develop the music prngratlln￿ in the b￿n￿nt bar Spa￿ "Below Stolle Nest" building a
strong network of protnoter partner5. This strayKI of activity attracts a diffeMt audience and allows us to host
rforniances which sit better in a more c&8uaL intimate space. The income strearn proi'ided by the bzr 0[￿ratIOn
offers the Charity a reliable ￿Vr¢¢ of fvThJs which (xynrribute greatly to cote costs and pn)8ramme activity.
FLNANCIAL REVtF.W
During the period the Charity did not receive any charitable Contributio￿8. inst¢ad its in¢otne was d¢rived from rental
fees collected on the building occupied bj the Cbarity. and a slwe of the b8r proeeeds iDwwne from a semi-
rniallent arrdngement with Below Ston¢ Ne5L The rental in(xTrme and other income receivwj during the year have
en sufficient to meet all expenditttre of the Charity over the same yeaT and con5equentl)' there are no funds in
d¢fi¢il.

STO
TRUSTEES. REPORT
RESERVES POLICY
R¢serYes are needed to bridge the gap between the spending and ￿CeiVing of resources and to cover unplamied
eX￿nSes. The Trustees consider that tbe ideat level of reseThes &$ at 31 March 2025 would be GBP 30,000.
The TnJ5tr5 believe this io b¢ a r¢lcvaDt wnsirkrdtioll as these fi￿dS would ensure that the charity would be able lo
meet the salaries of the Charity's employees for three month4 and all other fLx¢d ¢xpcn5es ¢ould b¢ canc¢ll¢d with
In￿lled1ate effect if it were deemed nece&88ry for cashflow.
Th¢ actual reserves for the year ending 31 March 2025 were GBP 36.609 (2024: GBP 84.595). The Trustees shall
consider the reserves policy on an ongoillg basis and make changes as deemed necessary.
The ChaTity has & sllrplus of reserves of GBP 6.(A)9 as * the y¢w-cnd which the TTUStc¢s intend to us¢ to fiwther the
Chartry's objectives, includillg for the provision of rehearsal space ffft-of-ch2rge to Artists and PErfortn¢rs, and foT
the on-going promotion of the performing arts ID Lonthn.
PLANS FOR FUTURE PEIUODS
As in P￿vIouS year4 Stone Nest will ￿Trtinue to supwyrt the gr*Juai improvement of the building in li￿ with its
practical Tequir¢tncnts and arti51ic vision. and the dei'elopment of the organisation. its networL ￿ndraISing strategy,
business miKlel, bar and artistic programmc. Th¢ management will continue lo research the local and international
arts scene in order to plall the programme, attending performance5 aDd festiva15 and meeting with artists and partncrs.
Building improvements irL this period and the income stream getmted by the b8r operation will enable Stone Nest to
mak¢ fullcr of th¢ building. reach a wider audience. and Lwra* a programme olartist ￿SIdencIeS, workshops and
PToductiODS in ord¢r to mc¢t its rjwitable objectives.
Artistic plans for the a)ming year incI￿￿e.
•Fightfor Americal in collalM)ration with our existing partnerthe american vicarious (Debate." Buldwin VS Buckley).
A groundbtraking particip&tOTy iDSta]latton in5pifEd bv tarticat tablctop wargarn¢5, scl on thc morning of January 6th
2021. FightforAmerical explorts the legacy of the Capitol riot and th¢ gam]fi￿lon of American ￿lIticS.
• On The Other Earth- a virthal choreograpbic instsllatioD in ￿lIa￿￿tion with Studio W&yn¢ MCG￿gor and
Somerset House
• An eclectic music prOgramTh￿ f¢aturing Sam Amidon. Martin Haye& Enji. Mark Fry. Gagarin Quartets. the Jewish
Music tnsitute and mo
REL4TED PARTtES
None of the Trustees receive remunetatioll or other financial I￿erIt from their work with the Chartty. Any
onnertion betw¢¢n a Tnjstee or senior manager of the clwtty with a production company, COntr￿ted actor,
perfom)er or exhibitor be disclosed to th¢ full board of Trustees in the same way &$ any other contractual
relationship with a related party. In the current yeHr uo such related party traT]saction$ were ￿ported.
As mentioned alK>v¢, the sole meTnber of thc CTharity, being Argcnlcuil Lirnitr& has the ability to appoinl ￿tile, and
set tern]s of office for the TnLStees. Mr Yvon Patrick Le Floch is the sole dirertor of Argenteuil Limited.
The Ch￿lty is current]y occupying the prorErty known &$ 136 Sbaftesbury Avenue. the above mentioned principal
otTice. on a Licence to Occupy. Mr Yvon Patrick Le Floch 15 the 501e director of Balta Limited - the landlord of the
prO￿rtY.
Erica Crnmp is a partner of Bot¢5 Wells Braithwaite LLP. a law f￿rn providing legal advice to the Charity on one
atea of advice only for the perM)d of these &ccounts. Erica Crump doe5 Ilot provid¢ any legal services herself and is
not involv¢d in instruthing Bates Wells in this One area (and in any evenL the legal services aMol￿ted to ns1 its this
year).

STO
TRUSTEES. REPORT
EXEMPTIo￿s FROM DISCLOSUIIE
The Charity has Dot utilised any exemptions from disclosure.
FLThT)S HELD AS CUSTODIAN TRbSTEE ON BEHALF OF OTHEIiS
The Charity and its Trustees ￿e t)ot acting as ¢ust(xlian trust¢¢s.
FUNDS IIELD AS cusfoDJAI% TRusfEE ON BEHALF OF OTHERS
The Chartty and its Tntstees noi ￿tIng as custodian In￿s.
RISK m￿NAGE(￿lE1￿[
The"I"rusttes have k risk managmcnt slratrgy which comprises".
An annual review of the risks. th&t the charity rnay" faLt"
The establishment of systems and procedutes to tnitigate those risks id¢ntificd in the annual review.. and
Th¢ implementstioo of proCedU￿S designed to minimise anv ￿)￿ntial impact on th¢ charity should tho
Ei5ks mat¢rtaiisc.
The review h&8 identified that flnancial STLStAin%thility 15 the niajor fllwicial risk for the charity. In collaknration with
Ihc landlord, attention h&$ also been focussed oll ￿)￿-r￿3￿clal risk5 from fire. hcalth and safety of artists and
&udience and managcrnent of wtorniing rights.
By order of the Trustees
Yvon Patrick le Floch
Chairn)#ll
15 December 2025

STO
TRUSTEES, liESPONStBtLrriES
Company law requires the director4 wtrK> are ft¢ferred to b￿C as th¢ TruMe¢s, to prepar¢ fman¢ial ststements for each
rinon¢ial ycar whicb give a true and fair view of the state of affairs of the Cbarity at the year end and of its incoming
resources and resources exr*nded during that year. In preparing those fIn￿Citi1 statements. the Tn￿teeS are required
• s¢l¢¢t 5Ultabl¢ a¢¢ounting policies and then apply them consistently:
• makc judgements and estimates that are re&sollable and pruden4
• state whether applicable aCCo￿ting stsndards and statentents of recommended practice have been followed
subjecl to any dcpartures dI￿105¢d and explained tn the fuwicial statements: and
• prepare the fmancial statements on the going coucerll b&%is unle55 il is inappropriate to p￿sume that the Charity
will eonlinu¢ in business.
The Tn￿teeS are responSi￿le for k¢¢ping propcr accounting records. which disclose with reaso[￿1¢ ac¢uwy at any
time the fmancial ￿sitiOn of the Charity alld enable to thsure that the fu￿nCIal statements comply with tbe
Companies Act 2(K)6. They aTe also responsli )le lor safeguarding the assets of the Chartty and hence lor taking
r¢&fonabl¢ steps for the prevention and detection of fTaud and other irregularities.
Ihe I'rustees have prep[￿ed forccast financial information aDd iKlicvc that th¢ charity ha5 suifi¢i¢nt c&sh flow5,
including support from its anonyTllQUS donors Wh¢￿ r¢qui￿￿ to ￿ntInue to 0￿rate as a going conccrn.
By order of the Trustees
Yvon Patrick le Floch
Chairman
15 December 2025

STO
INDEPENDENf EXknMLNER'S REPORT TO THE TRI',STEFS OF STONE NEST
I re￿rt on the charity trust¢¢s on my exwnination of the accounts of the company for the year ended 31 March 2025.
which are set out on pages 9 to 16.
Responsibilities basis of report
As th¢ Charity's Trustees of the Company (and akn its ditectors for the purp)ses of eompany law) you 8re
re$poTisible for the pr¢paration of the accounts in accordance with the requirements of the Companies Act 2006 ('the
2006 Act?.
Having satisfied myself that the accvunts of the co￿partY are not rEquired to be audited und¢r Part 16 of the 2006
Act and are eligible for independent e￿￿nItiatIO￿ I It￿rt in resiKct of my exarniD8tion of your Charity's a￿ounts as
carried out und¢r scction 145 of the Charities Act 2011 (Ibe 2011 Act). tn carrying out my examination I have
followed the Directions given by the Charity Commission Under section 145(5) (b) of the 2011 ACL
IndepeDdeDt examiner's statemettt
I have compleled my examination. I confum no matters have come to my attention in coTItLe¢tion with tb¢
¥arninatiou giving me cause to believe:
(l) acLounting recoTd5 We￿ not kcpt in rcspect of the company as required by section 386 of the 2006 Act. or
{2) the ac(x)unts th) not accord with those aceountiDg recor(Ls: OT
{3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act oth¢r than any
r¢qUi￿r￿¢￿t that th¢ accounts give a ITue and faiv view which is Dot a matter considered as part of an independent
ex8mination- or
(4) the accounts have ttot ptEpared ID accordan(% with the rnethods and prin¢ipl¢s of the Statement of
Recommended practice for accounling and reportillg by charitie5 [applicable to charities pr¢ppring their accounts in
accordancc with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no CODcerns and have comc across no other matteT5 Tn connectioll with the examtnation to which attention
should be drawTr in this rewrt in order to enable a proper understanding of the accouDts to bc r¢aC1￿(L
Cbris McKaiTr FCA
15 December 2025
Llll, Hacker Young
Chartered Accountants
14 Park Row, Nottingham
NGI 6GR

STO
STATEMEIIT OF FI￿ANCIAL ACTIVITIES
FOR THE YEAR E.￿llED 31 K4RCH 2025
Ullrestricted
fullds
Yearto
31 M4rch
21125
GBP
Total
funds
Ytar to
31 Mareb
2025
GBP
Total
funds
Ye4r to
31 Marcb
2024
GBP
IYot¢s
INCO.ME AND ENDOWMENfs FROM:
Rental inc¥*me
-I'icket sales
Other in(x)tne
197,534
49.581
49,110
197,534
49.581
49,110
264.557
109.062
TOTAL
296.225
296.225
373,619
EXPENDrrLIiE OY:
Charitrbl¢ artiviti¢s
344,211
344,211
340,681
TOTAL
(344.211)
(344.211)
(340.681)
NET MOVKMbNf FOR THE YEAR
(47.986)
(47,986)
32,938
Totsl fLwds brought forward
84,595
84,595
51,657
TOTAL FUNDS CARRtED FORWARD
36.609
36,609
84,595
All of the above results are derlved continuing activitie& The 51atetuent of fmanciaj activitÉcs includes all gains
and losses tEcognised in the year.
ITh¢ llOt¢s on wag¢s 12 to 16 fomi part of these financial statements)

STO
STATEMENT OF FINANL CIAL POSITIO1%
AS AT 31 hL4RCH 2025
31 Ma￿￿
2025
GBP
31 Marcb
2024
GBP
Notrs
CITRRENT ASSETS
Receivables
Prepayments
Cash
49
4.041
43,997
392
873
90.310
48,087
91,575
CREDrroRS (amounts falling due within ottt yexr)..
c￿litOrS and accruals
tkposits r¢¢¢ived
io
11,478
1,980
5,000
NET CURRLN"r ASSETS
36.609
84,595
TOTAL NET ASSETS
36,609
84.595
CHA￿Ty bUNDS
Unrestricted in¢J)me fijnds
36.609
84.595
TOTAL CHARrfY FLfNDS
12
36,609
84.595
For the financial ycar in question ihe company w&8 entitled ￿ exemption under Section 477 of the Companies Act 2006
Yelating to small companie5. No members hav¢ r(4uircd the company to obtain an audit of its account for the year in
accordance with section 476 of thE Companics Act 2006.
The dtrector5 acknowkdgc thcir resrmmsibility for complying with the requirements of the C4)mpanics Art 2006 with
respect to accounting records and for the preparation of financial ststcmen
The financial 51atcmcnts were appmved and authorised for i&8u¢ by the ￿0rd of TnJ5te¢s on ..
were signed accordingly:
Yvon P2tri¢k 1¢ Flo£h
Tnjstee
Company Registr8tiDll Dumber 118301111
(The not¢5 on page5 12 to 16 fonn part of tI￿e fir￿lle1￿1 statements)
io

STO
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
l April 2024
l April 2023
Notes
31 March 2025
31 Mareb 2024
GBP
GBP
C*sb Iloiv from oper*ting acliviti
Net (Ios5y inco￿¢
ncre&8ey decre&se in ptepaytnents
Inereasel (decre25e) in payables
Decrease in receivables
{Decreasey Incre￿ in de￿)sits received
(47.986)
(3,168)
9.498
343
(5,000)
32,938
2,736
(7,853)
193
3.000
Net ¢8sh inflow5 (uscd iny from operatiODS
(46,313)
31.014
Cash at the beginning of the year
90,310
59296
Cash at the end of tbe year
43.997
90,310
(The notes on p8g¢s 12 to 16 form part of these fujancial ststemeDts)
li

STO
NOTES TO THE FIYANCIAL STATENIEiwrs
FOR THE YEAR EYDED 31 MARCII 2025
ACCOLNTING POLICIES
The principa] accounting policies adopkd in the preparntion of the fillaneial statements are as follows:
(a) Basis of prepardtion
The finan¢ial siatements have been prepared in ￿7rdanCe wtth Accounting and Reporting by Charities: Statement of
Recommended Prdciice applicable to charities preparing th¢ir a¢¢owits in accordance with the Financial Reporting
Standard applicable in the UK and the Republic of Ireland (FRS 102) {effective l January 2015) - (Charities SORP
2019 (FRS 102)). the Financial Reporting Standard applicable in the UK 4md Republic ofireland (FRS 102) the
Companies Act 201￿.
Sione meets the def]nition of a publie b¢ncfrt entity wid¢T FRS 102.
(b) Cash flow statement
Th¢ Charity has prcparcd a statcment of cash tlows using the indirect method.
(c) Funds
GcD¢ral funds are unrestticted funds available for use at the discretion of the Trustees in fLtherdn(% of the general
objectivcs of thc Cljarity aljd which have not i￿1 designated for other pufj)oses. There dcsignatcd funds and
no restrÈcted funds.
(d) Interest payable
Interest payable is reLxJgnised in the Statement of FinancÉal Activitics in thc y¢ar in which th¢y are incurr
{e) Incoming resources
All inCo￿]ng re50urecs are accounted for ￿.hell the Charity l]as entstlement to the fimd4 probability of receipt and the
amount is measurable. Where income is received itL &dvance of A perfort[th[￿ or other S￿¢ir1ed service it is deferred
ntil lh¢ charity is cntitlcd to that income.
ID Resources expended 8nd irnover&ble VAT
All resourcc5 exp¢nded arc r¢cogDiScd oncc there is a legal or cons1￿CtIve obligation to makc a paymcnt to a third
party. AU rcsouw¢s ¢xpcnd¢d ¢I￿lfied under activity headings that aggregate all costs relatcd to thc catcgory.
Donations are charged in the year when formally awarded by the Trustees and communicated to the recipienL
Irre5pe¢tive of the year wvered by the donatio￿ as they arc rcgaTded by thc Truslc¢s as f￿anCial obligations.
Irrecoverable VAT is cFw8ed against the category of rwurces ext*nded for which it w&s incurred.
{g) Going concem
The Trustees consider that there are no rnatrriai uncertainties atrx)ut the Trusvs ability to continue &s a going concern.
These financial statements are prepared under the going concern 3ssumplion. The Charity 5ha]I ￿ considered a going
concern unless the Ttustees co￿SIder the purposos of the Charfttv ￿ longer applicable or deem that they are no Ioll8er
able to source fi￿dIng to meet the puT￿SeS of the Charity. or bave no Tealistic alternative but to wind up the Charity.
12

STO
NOTES TO THE FIN￿NCIAL STATEI¥IENTS
FOR THE ITAR Ef4DED 31 MARCH 2025
2025 SUPPORT COSTS
Builditsg Deytlopmettt
*rtistit ofptrforniattee
progr*mme
Spgce
GBP
Total
2025
GBP
Basis of
GBP
Governance
[0[￿ation tecknology
Payroll administratioIi
Generat management
1.040
700
1,172
135.436
2,080
1,399
2,343
270,872
Tim¢ SF¢nt
Time sFnt
Tirlle ￿ttt
Time spent
699
1,171
135,436
138.346
13&348
276.694
2024 SUPPORT COSTS
Building DeveloprneDI
artistie of perfom*Dee
programEne
spaee
Total
2024
GBP
B*sis of
GBP
GBP
Governance
tnforn)ation technology
Payroll adrninistrdtiorL
General managernent
2,388
2,157
635
110,108
2.387
2.156
634
110,108
4,775
4.313
1.269
220.216
Time S￿nt
I'ime spent
Time spent
Time spent
115.288
I15285
230,573
ANALYSIS OF EXPENDITURE OY CHARITABLE AcfiviTIES
Ytsr ended
31 M*Yeb
Totsl
2025
GBP
Year eDded
31 Mareb
'rotal
2024
GBP
Aetivities Grant httdtttg
undertakell dirfftly
of actKviti
GBP
GBP
Support
costs
GBP
Building artistic programme
67.517
276,694
344,211
340,681
67.517
276.694
344.211
340,681
13

STO
OTES TO THE FLYAIlCtAL sfATEMEiwrs
FOR THE YEAR EhDED 31 MARCH 2025
ANALTrSIS OF EXPENDrruRE BI. YATURE
Year ended
31 M4rch
2025
GBP
Year ended
31 M*reb
2024
GBP
Agency fees
Annual premises iiiynce fee
Bank oharg¢5
Bu5ine&8 property
Communications
Company fees
Computcr equipment
CourÉ¢r a[￿ postage I￿S
Due5 and 5ub5criptions
Electricity
Employels NIC
Employe¢s pension wntributioos
Evcnt ¢xpendt
Independellt examineTS fees
Insurance
Legal and professional fees
larkcling ¢0sts
Mea15 and h05Pitaiity
OtTice equipmettt
Officc supplies
Performance expenditure
Project expenditure
Project mattage￿ent fees
Rcpair5 and maintcnance
Rcscarch cxpcnditurc
Security
Statutory maternity Pay
Subscriptions manuals & publications
Travel and accornmodation
Wages and salaries
Warehousing & stordge
Water
9.300
590
231
4.919
5.060
40
.399
26
12.588
249
3,345
3,732
3.575
3.398
15
40
20,549
9.180
2,470
67,638
2.160
31,372
19,670
ioii
1,178
28.924
8.284
3,372
65,896
2,040
45279
2,122
1292
837
264
300
225
2,909
19.620
7,751
14.507
24241
2.219
4,162
(3.(X)8)
3.466
,511
114,547
4.058
(7.585)
1,214
815
120,944
3.120
1.390
2,691
344,211
340.681
14

STO
NOTES TO THE FIN￿CIAL STATEMElYtS
FOR THE YEAR ENDED 31 MARCH 2025
ANALYSIS OF STAFF COSTS
Year eDded
31 Mar¢b
21125
GBP
YeAr ended
31 March
2024
GBP
Saiari¢s and wages
Emplo)¢ls NIC contributions
ETnployeVs pension contributions
Statutorv maternity. pay
114,547
8,284
3,372
{3.008)
120,944
9,180
2.470
{7.585)
123,195
125.009
One employee emolumellts in ex¢¢s5 of GBP 60,IKK) dwing y¢ar.
The Cbarity TTh￿teeS were aot paid or reimbursed eX￿lse5 durttig the year and no Charity Trustee received
any emolument or payment for pTh)fessional or other ser%'ices.
STAFF YUMBEILS
The average number of ￿ll-tiM¢ equivalent employees during the yearlperiod was as follows:
Year ended
31 Mareh
2025
Year end¢d
31 Marcb
2024
Number
Number
TAXATION
The Charity is exernpt fiDm tax on income and gains failing within section 505 of the Taxes Act 1988 or
section 252 of the Taxation of Chargeable G8in5 Act 1992 to the extent that these are applied to its charitabl¢
objects.
CASH AT BANK
2025
CBP
2024
GBP
Natwest ¢UTr¢nt t¢count- GBP
Casb held byl {owll)g to) payroll provider
43,987
io
90.624
(314)
43,997
90JIO
15

STO
NOTES TO THE FTh ANCIAL STATEMENTS
FOR THE YEAR E￿￿ED 31 MARCH 21125
io
CREDITORS D ACCRUALS
2025
GBP
2024
GBP
ACcn￿l for irtdep¢nd¢nt ¢xominefs review fee
Oth¢T ¢r¢ditors and accruals
2.040
9.438
1,980
11,478
1.980
li
ANALYSIS OF ASSETS BETWEEN FUNDS
UDrestric¢ed
Dds
GBP
Restricted
d5
GBP
Total
2025
GBP
Total
2024
CBP
Cash at bank
C&8h held by third parties
Prepayments
D¢btors
Dcposits received
AccnEa15
43,987
10
4.(Hl
49
43,987
io
4.041
49
90.624
(314)
873
392
(5,000)
(1,980)
{11.478)
(11,478)
Total
36.6(W)
36.609
84,595
12
ANALYSIS OF MOVETrIENfs LY UNREsfRicfED FUNDS
Broughi
fonv¥rd
Carried
forward
CBP
Income
Expenditsre
C.BP
GBP
GBP
General fund
84595
296,225
(344,211)
36.609
Totsl
84.595
296.225
(344.211)
36,609
13
RELATED PARTIF
Any connection between a TnL8tee or senior manager of th¢ CbaTity with a produclion company, contracted
actor. perfomier or ¢xhibitor must disclosed to the fi)11 board of TnL8lees in the same way as any other
ontractual relatiOll5hip with a relat¢d p8rty. In current year no such relatcd party transa￿kOnS were
re￿rted.
The Charity 15 CWfEntly omipyiog the PTop¢ty kDowD as 136 Shaftesbury Avenue, the abov¢ mention¢d
principal office, on a Licence to Occupy for nil consideTation. Yvon Patrick Le Floclb on¢ of tbe Charity's
trustee4 is also the sole director of Balta Limited- th¢ laudlord of the protty.
Erica Ctump is & partner of Bates Well& a law fimi bistorically providing legal advire to the Charity on olle
matter Wkne￿ the firn] h&8 historically advised the cFwity. Bates Wells ha5 not been insttucted to provide legal
advice on Jny other tnatter (and any new instructiot]s would need to lollow a conflicts proc¢s5 specifically
adopied by the trustees for aP￿IntIng Bates Wells). In any evenL the services totall¢d GBP llil in this year
(2024.. GBP nil) and Bates Wel]s discontinued the provision of Tegislered oifio¢ services effective 23 June
2025. Services in the prior year totalled nil in the current prior years. As at the year end there was no
work in pr9￿$5 with Bates Wells.
No employee is considered to be key managerDent pEThonn¢l.
16